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Instore delays results

Published: 26 April 2007
Majority shareholder looks for buyer
Instore's presentation of its annual results were postponed after it was informed by its 64.9% shareholder, Tradegro, that it is in 'advanced negotiations' to sell a substantial chunk of its holding to a third party.

It has emerged that once the transaction is completed, the third party will hold a maximum of 29.9% of the company.
The results will then be announced along with any management changes.

According to analysts, chief executive Trevor Coates will leave the business.

Richard Ratner at Seymour Pierce said in a note: "We await with bated breath to see who is buying the stake and must say that, if Trevor is off, we hope that he will be rewarded for at least stabilising the business."

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